Block, Inc. (NYSE:SQ) Shares Sold by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC trimmed its stake in Block, Inc. (NYSE:SQ) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,867 shares of the technology company’s stock after selling 174 shares during the quarter. Bouvel Investment Partners LLC’s holdings in Block were worth $1,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SQ. Envestnet Portfolio Solutions Inc. raised its holdings in Block by 53.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,947 shares of the technology company’s stock valued at $588,000 after acquiring an additional 2,432 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Block by 6.3% in the first quarter. Avantax Advisory Services Inc. now owns 21,928 shares of the technology company’s stock valued at $1,855,000 after acquiring an additional 1,292 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Block by 19.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 301,857 shares of the technology company’s stock worth $25,531,000 after purchasing an additional 48,646 shares during the period. Blair William & Co. IL grew its stake in Block by 3.0% during the first quarter. Blair William & Co. IL now owns 222,495 shares of the technology company’s stock worth $18,819,000 after buying an additional 6,556 shares during the period. Finally, Orion Portfolio Solutions LLC raised its position in Block by 44.8% in the first quarter. Orion Portfolio Solutions LLC now owns 11,482 shares of the technology company’s stock valued at $971,000 after purchasing an additional 3,552 shares during the period. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Block

In other news, CAO Ajmere Dale sold 1,406 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total value of $90,968.20. Following the completion of the transaction, the chief accounting officer now owns 90,960 shares of the company’s stock, valued at approximately $5,885,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Amrita Ahuja sold 6,661 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $430,966.70. Following the transaction, the chief financial officer now owns 264,697 shares of the company’s stock, valued at approximately $17,125,895.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Ajmere Dale sold 1,406 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total value of $90,968.20. Following the completion of the sale, the chief accounting officer now owns 90,960 shares of the company’s stock, valued at approximately $5,885,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,678 shares of company stock valued at $1,924,112 in the last quarter. Company insiders own 10.49% of the company’s stock.

Block Price Performance

Shares of NYSE:SQ opened at $85.82 on Thursday. The firm has a market capitalization of $52.84 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 1.18 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a one year low of $53.82 and a one year high of $90.00. The company’s fifty day moving average price is $69.67 and its 200-day moving average price is $67.09.

Wall Street Analyst Weigh In

Several research firms recently commented on SQ. Needham & Company LLC boosted their price target on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Benchmark restated a “buy” rating and issued a $99.00 target price on shares of Block in a research note on Friday, August 2nd. Piper Sandler restated an “overweight” rating and set a $83.00 price target on shares of Block in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price target on shares of Block in a research report on Monday, October 21st. Finally, William Blair raised shares of Block to a “strong-buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Block has a consensus rating of “Moderate Buy” and an average target price of $91.30.

Block Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.